Do all markets open at 08:00 and close at 17:00 in their local time?
I have Japan as GMT+9
Here is the complete trading day in Japan, hour by hour (times are Japanese Standard Time, JST = GMT + 9 hours)
8am ----- Business day begins
8:50am – Economic data released (typically) at this time
9am ----- Banks and stock exchanges open
11am ---- Stock exchanges close for 90 minutes
12:30pm - Stock exchanges re-open for the afternoon session
3pm ----- Banks and stock exchanges close for the day
5pm ----- Business day ends
Notes:
Stock exchanges: Tokyo Stock Exchange Group, and Osaka Securities Exchange
Regarding the close of the business day, businesses are typically closed to the public after 5pm. However, it is part of Japanese business culture that white-collar workers remain at work until late in the evening. This is especially true in the financial sector.